Natixis slims down

French bank Natixis is to lay off 840 people as it scales back its investment banking activities. Natixis plans to halt most of its capital markets activities in Asia and equity derivatives trading in the United States. France’s fourth-biggest listed bank, said it will run down and eventually remove from its balance sheet 19 billion euros of risky assets. Natixis is one of the banks hit by an alleged multi billion dollar fraud by US financier Bernard Madoff.

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tags: Banking, Corporate, France